TORONTO, Canada
Barrick Gold (NYSE: GOLD) (TSX: ABX) confirmed on Monday it plans to change its name to Barrick Mining Corporation at its upcoming annual and special meeting of shareholders next week.
The company also intends to change its ticker symbol on the New York Stock Exchange from GOLD to B, effective at the start of trading on May 9, 2025. Barrick’s shares on the Toronto Stock Exchange will continue to trade under the ABX ticker.
The move reflects Barrick’s ongoing expansion into copper, complementing its gold business.
The miner is investing $6 billion to develop the massive Reko Diq copper-gold project in Pakistan, expected to begin operations in 2028 and last for at least four decades.
It is also expanding its Lumwana copper mine in Zambia, aiming to position it among the world’s largest copper operations.
Chief executive, Mark Bristow said the change underscores Barrick’s vision of becoming “the world’s most valued gold and copper exploration, development and mining company.”
“Along with our world-class portfolio of six tier one gold mines, we are building a substantial copper business which will be a meaningful contributor to growing our production volumes in the coming years and beyond,” Bristow said in a statement.
“Gold remains core to our foundation,” he added, citing projects such as the Pueblo Viejo expansion in the Dominican Republic and the Fourmile gold project in Nevada.
Meanwhile in Mali, Barrick faces mounting challenges as an ongoing dispute with the African nation continues to impact operations at its flagship Loulo-Gounkoto complex.
At least four Barrick subcontractors employing hundreds of workers have begun laying off staff, Reuters reported on Monday, adding that some have stopped receiving payments for months.
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